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GOOG Off With Markets China is the news story of the day, BHP's warning about mediocre Chinese demand is pressuring the markets. Shares of GOOG are off, in line with the rest of tech. Investors continue look for Android momentum in the smartphone and tablet markets worldwide, especially with the Motorola acquisition integration; regaining ground in China; resurgence of Google TV; and continued growth of YouTube; expansion of social network Google+; and progress in other newer initiatives (location-based services, mapping, gaming, daily deals, Google Wallet, Google Music, etc.). The stock trades at approximately 12.6x Enterprise Value / EBIT.

Why Google Is Like A Crack Dealer (GigaOM)Google keeps running a bait-and-switch on web businesses. First, the search giant offers a little traffic boost to sites that organize data in certain useful ways. Then it turns the game on its head and, without any notice, starts using that structured data to inform its own services. Finally, it launches its own competing product that steps in and replace yours. And then there’s the problem of delivering on your promises and many more examples. "I mean, why build for Google?"

China Still Investigating Motorola Acquisition (BusinessWeek)China’s Anti-Monopoly Bureau has expanded the second phase of its investigation according to a Motorola filing. While the transaction is expected to close in the first half of the year, the company said they can provide no assurances the transaction will be approved by China. "We continue to work closely with regulators in China on their review of our planned acquisition, which will enhance competition, bringing consumers faster innovation and more choice," said Taj Meadows, a Tokyo-based spokesman for Google.

"The Internet Has Become Like Electricity Or Water" (Boston Consulting Group)The Internet economy of the G-20 nations will reach $4.2 trillion by 2016 almost 1.7x last year’s estimated level ($2.5 trillion), according to Boston Consulting Group (BCG). The study also shows the importance of the Web to consumers and to businesses trying to reach them. More than two-thirds of Americans would forgo coffee and 21% give up sex for a year to stay online. “The Internet has become like electricity or water,” said Dominic Field a partner at BCG. By 2016, the number of global Web users will reach 3 billion from an estimated 1.9 billion in 2010.

Google’s President Of Enterprise Dave Girouard Leaves (All Things Digital)Dave Girouard, Google’s VP of apps, is leaving the company. Girouard had been responsible for Gmail, Google Calendar, Google Docs and other cloud applications. After eight years at the company, Girouard plans to start his own. The start-up is called Upstart, and it lets you "raise capital in return for a small portion of your future income," according to the company’s website. Google Ventures will be investing in his start-up, alongside Kleiner Perkins and NEA.